Lockheed Martin Corp. (NYSE-LMT) is one of the leading international companies in the production of fighter aircraft and helicopters for the military. The company was formed in 1995 through the merger of Lockheed Corporation and Martin Marietta. The company is headquartered in Bethesda, Maryland, U.S.A. The current CEO of the company is Robert J. Stevens, who succeeded Gordon Richard England as First Assistant Secretary of the United States Department of the Interior. Lockheed’s products include the Trident ballistic missile, the F-16, Hercules and the F-22 Rapt or, for which the company received the Collier Trophy in 2006. Titan missiles as well as the Space Shuttle External Tank are produced under Martin Marietta. Lockheed Martin Corp. (NYSE-LMT) also manufactures electronics and information and electronic systems and has a commitment to aerospace. The main customer for Lockheed Martin Corp (NYSE-LMT) (around 95%) is the US Department of Defense, but also other US federal agencies and the militaries of foreign powers.
In a press release, the company informed the public about the launch of ten satellites into space, which it produced itself. The satellites are currently in low orbit in space. The mission was launched on September 2 from Vandenberg Space Force Base in California via a SpaceX Falcon 9 rocket. Soon after launch, SDA confirmed the separation of all 10 Lockheed Martin satellites from the launch vehicle. More Lockheed Martin President , Joe Rickers said “Lockheed Martin is proud to be part of the SDA mission that launched a successful suite of integrated space components. We look forward to contributing our broad expertise in this mission to enhance the security of military capabilities in space.” The company is also currently building 42 Tranche 1 Transport Layer satellites that will be used for low-latency satellite transmission of military data across a range of warfighter platforms.
The company also recently released its financial results for the second quarter of 2023. The company’s total sales increased 8% year-over-year to $16.7 billion. The company’s net income for the second quarter of 2023 was $1.7 billion. Compared to the same quarter last year, 2Q 2022 net profit was USD 309 million. Martin President and CEO Jim Taiclet said “Lockheed Martin delivered strong financial results in the second quarter with record orders of $158 billion.”
Lockheed Martin Corp (NYSE-LMT) also pays regular, quarterly dividends to its shareholders. The annual dividend yield is 2.70% p.a. The actual quarterly dividend amount was approved by the board of directors at $3.01 per share. Lockheed Martin Corp (NYSE-LMT) has currently become a very attractive stock to buy for private investors and multinational investment corporations, primarily due to the release of its second quarter 2023 financial results, but also due to its space activities, in which the company is actively involved with its satellites. According to analysts at brokerage firms and financial strategists at investment banks, the share price can be expected to rise in the short to medium term investment horizon, where the average target price has been set at $494.50 per share.